News Hub: Economy a Bumpy Ride for Rich Too

9/16/2010 4:56PM

Conor Dougherty and Mark Whitehouse discuss two sides of America's strained economy: a poverty rate that has climbed to its highest level since 1994 and the increasing income volatility among the rich.

This transcript has been automatically generated and may not be 100% accurate.

Gou ... the poverty ... level has reached now at the record young people in the near Albany ... and the US ... forty three million people ... rely exactly chances are many causes of a moving target around ... this time it's the ad money in coming to leave its twenty one thousand seven hundred something dollars for family of four with two kids domestic Countrywide retail disappointment ... yes and there's no I miss lot of controversy over how that's measured because it doesn't count ... a lot of things like basically ... non cash benefits such as the earned income tax rate food stamps ... which make up really the backbone of what the government's been doing to try to fight poverty blast know twenty thirty years and could not forty three point six nine of the exact thing as people decide to be in poverty ... in this country apparently that's not as bad as some people than expected ... well not all down and in fact some people worry that the poverty rate was something like one point one percentage point people by making three times that because ... we look what happened to be an employer eight We ... was the biggest jump in unemployment and a need to really ... we're in the teeth of the worst depression ... probably since the Great Depression last year Japan and a mentor and poverty hasn't gone up that much ... of the month honours is up about the housing ... project Social Security ... so security is one and then of course there's huge growth in unemployment benefits down and you alot alot of ... which are ... whenever states that then they've been extended through the stimulus act so ... there's that isn't being debate to be had over from where we go from here but for right now it's it's keeping a lot of people ... from to go into a break down one cent a month White House a new friend walked past it says it's cutting whiz kid to be rich so I should feel ... safe being Polman right ... Mr Limited if you're just making ends meet a little bit of income volatility can be buried in ... the market ... Mr Semi's nineteen million dollars a year and an essential offing from volatility for breaching the building a larger period this is the last three decades compared to several decades before then ... um but it's obvious income cyclicality for the dreamers because the rich ... the top one percent of income ... has increased a lot to almost report ... I knew you some statistics Arizona's top one percent of pretax income up of one point four million two thousand and six but that it dropped to nine hundred thousand in another those those dividends ... what did it ... that that the average income of the top one percent is about nine hundred thousand cars in two thousand and ... one of the top zero point ... zero one percent is about seventeen ... when asked the Boston Public Debt greasing warning comes just as he added ... yet in the US and why is that ... the rich are getting richer the Ming approve of but that the command a larger share of the nation's total income ... and that the reason for that may be the same ... as the reason for this cratered infants become cyclicality ... of people with the right skills and talents can plug into the global economy ... they never could before ... that also makes them more exposed to the ups and downs of global final would see ... it's tough time out there for everyone ... I really have a final word it's it's it's really tough and it is to be huge as to where we go from here because ... his unemployment benefits are keeping people from the brink ... over getting people back to work to ... adjust and it did last month when I mean I thought I cannot cars on the block last St's Sts ...